Meta Tackles Global AI-Generated Disinformation

Meta disrupted multiple covert influence campaigns. These campaigns originated from China, Iran, and Russia. Many used AI to spread disinformation.

Meta’s threat report disclosed the removal of hundreds of fake Facebook accounts. These accounts produced false images, videos, and text. Despite the sophistication, Meta halted these networks.

Meta also shut down an Iran-based network targeting the Israel-Hamas conflict.

Meta is now preparing for upcoming elections in the European Union and the United States.

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FBI Crushes World's Largest Botnet

The FBI has dismantled a botnet spanning 19 million computers across 190 countries. Included 613,000 computers in the U.S.

This botnet, rented out to hackers, enabled crimes like financial fraud, bomb threats, identity theft, and access to child exploitation materials. It caused billions in losses.

Officials arrested 35-year-old Chinese national, Yunhe Wang. He allegedly managed the botnet for nearly a decade and used 150 servers to control it.

Wang profited $99 million by leasing access to compromised computers for various cybercrimes. Including pandemic relief scams, resulting in over $5.9 billion in losses.

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Salesforce Draws Worrying Forecast

Salesforce projects its slowest sales growth ever for the upcoming quarter, causing its stock to drop 16%.

The company forecasts revenue to rise only by 8%, or up to $9.25 billion, below Wall Street's expectations. Salesforce also adjusted its full-year operating margin forecast down to 19.9% from 20.4%.

Despite these challenges, Salesforce reported a 44% increase in first-quarter adjusted earnings per share.

Salesforce attributed the weaker forecast to reduced client spending on cloud services and business products, driven by economic concerns such as higher interest rates and inflation.

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Is Abercrombie a Thing Again?

Abercrombie & Fitch reported $1 billion in net sales—a 22% increase from last year—far surpassing expectations.

Abercrombie’s shares soared over 20% to $187. Sister brand Hollister also saw a 12% growth in sales.

CEO Fran Horowitz credited the success to smart clearance sales, reduced promotions, and a trendy product lineup.

Horowitz took over in 2017 and revitalized the brand. Stores were brightened, sizes expanded, and new fashions targeted young professionals. This seven-year transformation aligned with post-COVID casual dress trends.

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